The bank will automatically refund hundreds of thousands of customers who left money behind in its machines between 2005 and 2011.

During this period, customers were not given their money back unless they made a claim, a policy which was ditched in early 2011 in favour of automatic refunds.

RBS and its NatWest subsidiarity, which had a similar policy in place, have already set aside a £10 million pot to refund 300,000 customers.

According to the BBC, the banks are now working with the UK Payments Council to install a system that automatically refunds those who lost money for as far back as records allow.